The Investment Fund for Wales hits £10m investment milestone as it celebrates one year anniversary

This week the £130m Investment Fund for Wales (IFW) reached its first major milestone after hitting £10m in investment and lending into Welsh smaller businesses. The announcement comes one year on from the launch of the IFW in November 2023.

Among the Welsh businesses to benefit from the Investment Fund for Wales, include a £650,000 equity investment into Caerphilly based ‘hard adventure’ travel firm, EverTrek, a growing online travel brand catering to the £1.7bn hard adventure segment of the £10.7bn UK adventure tourism market; and a £850,000 equity investment into another Caerphilly based firm, drone development specialists and service providers, Drone Evolution.

Debt deals include a £500,000 investment into leading contract scaffolders Palmers Scaffolding based in Deeside, and a £100,000 debt finance deal with Economy Energy Group, a renewable energy provider based at Swansea Enterprise Park, both via FW Capital, and a £100,000 investment into Bangor based Snowdon Timber Products via BCRS.

The Bank’s Investment Fund for Wales is the first solely UK government-backed investment fund for smaller businesses in Wales and is helping to increase the supply and diversity of early-stage finance by providing options to firms that might otherwise not receive investment. Funding is designed to help businesses with activities including expansion, product or service innovation, new processes, skills development, and capital equipment.

Three fund managers were appointed to manage the fund. BCRS Business Loans manages the smaller loans part of the fund (£25,000 to £100,000), FW Capital is responsible for larger loans (£100,000 to £2 million) and Foresight manages equity deals (up to £5 million).